Invest In America Named Wegner Winner
MADISON, Wis. - The National Credit Union Foundation (NCUF) has named Invest in America the winner of the 2012 Herb Wegner Memorial Award for Outstanding Program. Invest in America, which provides credit union members with discounts on auto purchases and many other services, began in late 2008 and has made a significant impact on U.S. auto sales. Invest in America honor will be recognized at the Herb Wegner Awards in Washington on March 19, 2012. Invest in America is run by CU Solutions Group, a CUSO of the Michigan CU League.
NCUA To Disclose CAMEL Ratings
ALEXANDRIA, Va. -NCUA said last week that it will soon be disclosing CAMEL ratings to federally insured, state-chartered CUs during "during all insurance reviews and supervision contacts in which NCUA examiners are on-site." The agency announced the move in Letter to Credit Unions 11-CU-12. In the event of any disagreement by state and federal regulators over the CAMEL score, the agency said its examiners will disclose their score to the CU.
CEO Meets With President Obama
PEOSTA, Iowa-- University of Iowa Community CU CEO Jeff Disterhoft was among a group of Iowans who met with President Obama here as part of an economic development forumDisterhoft told local media he used the occasion to press the President for an increase in the member business loan cap for credit unions.
New Claim On Being Oldest
FENWICK, Scotland-A new claim has been made for being the world's first credit union. The Fenwick Weavers Co-operative Society, a weaving cooperative founded in Fenwick, Scotland in 1761, said it was, in fact. the first credit union ever founded. The cooperative is no longer operates. But a new 32-page booklet co-published by John McFadzean, suggests that organizational papers were signed on March 14, 1761, during difficult economic and political times. According to McFadzean, the initial charter outlines organizational principles that included the contribution required to join the cooperative, and in other papers signed in 1769, plans for extending credit to members.
To date, the first credit union in the world had been considered to be the Rochdale Weavers Society, founded in England in 1844
Greathouse Receives Leadership Award
GLASGOW, Scotland - Greta Greathouse, who is overseeing the World Council of Credit Unions' development program in Haiti, has been named winner of the second annual Leadership Award from the Global Women's Leadership Network. Thel award honors outstanding achievements in support of CU development, particularly as it relates to worldwide CU women's leadership development. For info: www.woccu.org
RBFCU Passes $1B In Auto Loans
LIVE OAK, Texas -The $4.3-billion Randolph-Brooks FCU reported it has surpassed $1 billion in auto loans for the first time in its history. The CU cited low rates and new financings and expecially refinancings for the volume. RBFCU dropped its auto loan rate to 1.9% APR at the beginning of June and has seen an increase in loan applications and approvals since that time but also said the volume increase started before the rate decrease.
Backpack Full of Help From IMCU
INDIANAPOLIS-Just in time for the start of a new school year, Indiana Members Credit Union has raised more than $73,000 in their school supply campaign that will provide 3,500 backpacks and school supplies to underprivileged children. The credit union also raised funds to purchase more than 500 school uniforms for students at one school.
Branding Experience Leads To CUSO
SANDUSKY, Ohio -The $145 million VacationLand FCU here has formed a CUSO, called Chatter Yak, to share the knowledge it said it gained in developing marketing plans and social media strategies with other credit unions. That expertise was developed as the result of a recent rebranding campaign, the CU said.
Catalyst To Host First Symposium
DULUTH, Ga.-Catalyst Corporate FCU, the institution formed by the merger of Southwest Corporate and Georgia Corporate, will host its first-ever Economic Symposium Sept. 28-29 at the Twelve Centennial Hotel in Atlanta. Catalyst reorted that six different economists/financial experts will speak to the event. For info: www.gacorpfcu.org.
Brown Named To Head Up Biz Kid$
MADISON, Wis.--Danielle Brown, VP with the Northwest CU Association and executive director of the Oregon CU Foundation, has been named by the National Credit Union Foundation as national coordinator of Biz Kid$, the credit union-sponsored public series on PBS.